LONDON, UK / ACCESSWIRE / May 25, 2018 / If you want access to our free research report on Comcast Corp. (NASDAQ: CMCSA), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CMCSA as the Company's latest news hit the wire. On May 23, 2018, the Company issued a statement revealing its intention to make a superior counter bid to acquire Twenty-First Century Fox, Inc. (NASDAQ: FOX; NASDAQ: FOXA) (''Fox''). The Walt Disney Co. (NYSE: DIS) (''Disney'') had already signed an agreement to acquire Fox in December 2017 for approximately $52.4 billion. Comcast's announcement comes in just ahead of the voting by Fox's and Disney's shareholders on the merger as per the recent filings by the two companies with the US Securities and Exchange Commission (SEC). Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Comcast's Press Statement

Comcast issued a statement that it is planning to make a 'superior offer' for the assets which Fox has agreed to sell to Disney as part of the Fox - Disney deal. The assets included in the Fox - Disney deal are Twentieth Century Fox Film and Television studios, plus Fox's cable and international TV businesses. The Fox - Disney deal does not include the Fox News Channel, Fox Business Network, Fox Broadcasting Company and certain other assets. Comcast has clarified that its offer would be completely in cash and would be at a premium to Disney's current offer. Comcast is confident that its deal would match the terms of the Disney's offer, provide options for a termination fee to cover regulatory risks, and would be as favorable to Fox's shareholders as that of Disney's offer.

Comcast has clarified that it has not taken a final decision at present and that it is preparing to arrange for the financing for the deal and start the process for key regulatory filings.

The Fox - Disney Merger

The Fox - Disney deal was signed in December 2017 after Fox decided to spinoff some of its businesses into a new company. Fox plans to complete the spinoff before completing the Fox - Disney merger. The segregated Fox businesses include Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2, and Big Ten Network. The Fox - Disney deal will include Twenty-First Century Fox's film and television studios, cable entertainment networks, and international TV businesses. Disney had agreed to pay 0.2745 Disney shares for each Fox share, and also assume Fox's debt valued at approximately $13.7 billion. The transaction has a total equity value of approximately $52.4 billion and a total transaction value of approximately $66.1 billion. The highlight of the deal is that Fox will try to complete the proposed acquisition of the balance 61% stake that it does not own in Sky Plc., which it announced in December 2016. Sky is a leading European entertainment Company operating primarily in the UK, Germany, and Italy. Fox had offered to pay £10.75 in cash for each Sky share, valuing the deal at around £17.5 billion. The deal has been awaiting regulatory approvals for quite some time, and has been delayed due to the scrutiny by antitrust regulators.

Interestingly, Comcast has made a $31 billion (£22 billion) counter offer to acquire Sky in February 2018. In April 2018, Sky's Independent Committee had withdrawn its recommendation to investors to approve Fox's offer. This was followed by the UK Government's stand on May 21, 2018, clarifying that the Comcast - Sky deal will not be referred to its competition authorities as the deal did not raise concerns on public interest grounds. Matt Hancock, Culture Secretary, UK, said:

''The proposed merger does not raise concerns in relation to public interest considerations which would meet the threshold for intervention.''

Comcast's counter offer has increased pressure on Fox and Disney to raise the bid for acquiring 61% of Sky if it wants to complete the transaction; and it could also impact the proposed Fox - Disney merger, as Fox's stake in Sky is part of the assets covered under the Fox - Disney deal.

Comcast's intention to acquire Fox is expected to trigger a bidding war between Disney and Comcast.

Stock Performance Snapshot

May 24, 2018 - At Thursday's closing bell, Comcast's stock slightly dropped 0.78%, ending the trading session at $31.63.

Volume traded for the day: 24.03 million shares.

After yesterday's close, Comcast's market cap was at $144.17 billion.

Price to Earnings (P/E) ratio was at 14.37.

The stock has a dividend yield of 2.40%.

The stock is part of the Services sector, categorized under the Entertainment - Diversified industry. This sector was up 0.2% at the end of the session.

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